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I am currently leasing a 2002 Dodge Ram 1500 Sport. My lease ends June 1, 2006 and was wondering about some options. My payments are currently $595.50/mo and current lease payoff is $18,959.12 (as of 9/23/05). I am trying to relieve some of my debt (and with gas prices) I would like to lower my truck payments. Should I wait until the lease end and finance the truck for the lease end price $14,156 (closed end lease) or could I try and refinance it now and lower my payments. Thanks for any assistance you can provide.

Hi eel14. It is usually fairly expensive to get out of leases before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive. If you really want to purchase your truck, you will probably be better off waiting until the scheduled end of your current lease to do so. About a month or two before your lease's termination date, place a call to Chrysler Financial (or whichever bank you are leasing through) and see if they will negotiate your trucks' purchase price. there is no guarantee that they will be willing to work with you, more often than not they won't, but you don't have anything to lose by asking.

Here's the information that you are looking for, b55140. If you were to lease a 2005 Dodge Ram 1500 SLT Quad 4WD through Chrysler Financial in October for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00298 and 49%, respectively. When negotiating your lease on this truck, make sure to keep in mind that DaimlerChrysler is currently providing $5,000 lease cash on it plus it is giving dealers up to another $1,500 dealer cash under the table. The exact amount of dealer cash that is available on this truck will depend upon the number of trucks the dealer that you are working with sells. They will probably be getting $500 to $1,000 dealer cash on top of the lease cash.

Hi petey50. You never mentioned how long you want to lease this truck for, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2006 Dodge Ram Quad Cab Sport 4WD through Chrysler Financial right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00225 and 51%, respectively. When negotiating your lease on this truck, make sure to take the $3,000 lease cash and $1,000 bonus cash ($4,000 total) that is available on it into account.

Hi everyone, I am trying to get some info on the Extra Credit Program, I have visited several local dealerships and no one seems to know much about it. I am looking at leasing a 2006 Dodge Ram Quadcab SLT 4wd, Hemi,with Big Horn package, sticker is $35,115. What kind of options could I qualify for under the Extra Credit program with a 740 credit rating?

Deferred and Graduated payments combined? I just graduated college and start my job March 1st so the Deferred and or Graduated payments would be very helpful.

A local dealership has a 2006 Ram with a MSRP of $32,830 for lease, $89 per month/27 months, 27,000 miles with $3850 down (this deal also includes $1000 lease loyalty which I would qualify for) Without the lease loyalty reduction they have the lease for $119 per month, all other terms the same.

Would it be reasonable to try to get the $35,115 MSRP truck for around $150 month with all other terms the same?

Hi heavyd1. You should be able to find out more information about the DaimlerChrysler's recent college grad program by visiting the following site: DaimlerChrysler Extra Credit '06.

I would be happy to give you an idea of what your lease payment should be like on this truck right now if you provide me with an estimated selling price for it, let me know hoe long you want to lease it for, and how many miles per year you need to be able to drive it.

Hey Chris. One percent below dealer invoice minus any available incentives is a great price for this truck. Furthermore, the lease program that you described is in line with Chrysler Financial's current program for this model. If you like the truck, I personally don't see any reason not to pull the trigger on this deal.

Looking for updated numbers on an 06 Ram 1500 Quad cab sport for a 24 and 36 month lease with 12K miles per year. I saw a posting for a 24 month lease interest rate for .02% and was wondering if this is something new and legit. Also, are the lease cash incentives still around? How close or even below invoice can I expect? Thanks.

What is going to be a cap cost on this truck. I am getting quotes of 31-33k and it seems like thats very close to msrp. What is the money factor for these leases and the residual on a 36 mth lease? What is a good cap cost to get?

Hello qpmicro. The selling price that you were quoted for this truck looks good to me. However, as you suspected the money factor that you were quoted is way too high. DaimlerChrysler Financial's current buy rate lease money factor for a 36 month lease of this truck is currently only .00209. Its 39 month money factor is much worse than this though. This might be why the number that you were quoted is so much higher. Go with a 36 month lease and insist that the .00209 factor is used to calculate your truck's lease payment. Using the numbers that you mentioned in your post, an MSRP of $38,250 and a capitalized cost of $31,609 ($34,509 selling price - $5,000 in incentives + $2,100 in negative equity), I estimate that this truck's 36 month, 12,000 mile, zero down, pre-tax monthly payment should be around $502.

I have a friend who has gave me a great deal on a brand new 2006 Dodge Ram 1500 Quad Cab. I'm not sure weather to buy it or not. My friend has an 2004 Ram 1500 he says the truck always needs repairs its not durable. I can't resist this offer. I'm waiting for the 2007 Toyota Tundra or the 2007 Chevy Silverado. Should I buy it.

Hi whodat50. Unfortunately, the money factor that you were quoted for this truck looks about right to me. DaimlerChrysler is not providing much in the way of money factor support on the '06 Ram Pickup right now. Chrysler Financial's latest buy rate lease money factor for a 36 month lease of an '06 Dodge Ram Pickup 1500 Quad Cab is .00347. This is equivalent to an interest rate of around 5.6%. If I was in the market for this truck, I personally would not lease it but would finance it or pay cash for it instead.

I am looking at leasing a 2006 Dodge RAM 1500 SLT Quad Cab 4x4. The dealer has quoted a MSRP of $33,260 and an Employee price of 28,524 (which is being offered to everyone). There is an additional incentive of $3500 cash back being offered. So the sales price of this vehicle is $25,024. I have a trade-in that will take another $5000 off of this price so the final price is almost exactly $20,000.

I plan to lease for 3 years with a 12,000 mile a year allowance. I have not been given the residual value of the vehicle or the money factor but I will get these values before I close the deal.

The salesman has told me that he thinks we can make a deal around $250/month with no hidden fees or costs. Simply trade in my 1999 Dodge RAM for $5000 and walk out with a 2006 Dodge Ram for $250 a month for 3 years.

Now this figure is actually quite a bit lower than I was expecting. Am I being set up for some kind of sales gimmick/trick or does this seem to be a reasonable amount? According to my lease calculator, using $20000 as the Adjusted Cap cost and a residual value of $12,160 and a money factor of .00275, the lease payment would still be $295 a month. Now if the residual is bumped up a bit, to say $14,000, then the lease payment would be around $250 a month.

So does this sound like a good deal, too good of a deal or not a good deal at all?

Hi ddeder. If you haven't leased this truck yet you are in luck. DaimlerChrysler introduced an additional $1,000 Chrysler Financial Bonus Cash on it for the last week of July. This brings the total cash allowance on it to $4,500. As far as your trade goes, there's nothing wrong with trading in a vehicle when leasing. However, it is in your best interest to have the dealer you are working with cut you a check for your trade rather than using the proceeds from it as a down payment on your lease. I always advise community members against making large down payments on leased vehicles because if their vehicles are stolen and never recovered or totaled in an accident during their lease, their down payments essentially disappear.

According to my calculations, if you were to lease a 2006 Dodge Ram 1500 SLT Quad Cab 4WD with an MSRP of $33,260 and a capitalized cost of $24,024 (this takes the extra $1,000 incentive into account but not your trade) through Chrysler Financial right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $347.

I've got a 2006 Dodge Ram that I leased for 2 years, that's ready to turn in around March. Is it too early to start looking at negotiating for purchase, and how would I go about it. The purchase price at trade in is around $19,200 and it'll have 24,000 miles +or-.

What is a reasonable value below the price to try and target. It is a Quad Cab 4x4 w/ 4.7 liter, tow option, fog lamps, It's been a nice truck, and I'd like to keep it if I could get a good deal.

Hello Ed. DaimlerChrysler has an early lease termination program that will waive up to three remaining lease payments for consumers who have a year or less remaining on their leases. Given the fact that you have more payments than that remaining on your lease, you would have to pay money out of your own pocket or roll the cost of breaking your current lease early into your next loan or lease to get a new vehicle now. Neither of these options is very attractive. If I was in your situation, I personally would wait until I was closer to the scheduled end of my lease to get a new vehicle. Stop by the following discussion for feedback on how much you should pay for this truck right now: "Dodge Ram: Prices Paid & Buying Experience".

Hi woody18. You never mentioned the selling price of the truck that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

Hey this is a great truck. Yesterday I sold my Toyota Tacoma for this bad boy. I got a Dodge Ram 1500 Night Runner. It was a pretty good deal. They gave $14,900 on my Tacoma. The truck was 35,990, but thanks to my friend I got that truck for 28,990. THIS TRUCK RULES!!